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Lobito corridor development: Afreximbank grants a €175 million loan to Mota-Engil Africa

16/11/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Dans le but d' aider Mota-Engil Africa to meet its investment requirements for the die For the development of railway infrastructure in the Lobito Corridor, the African Export-Import Bank (Afreximbank) has granted it a term loan facility in two instalments of

175 million euros.

Le plan d' investissement d' Afreximbank is expected to help extend railways connecting the port city of Lobito to the Tanzanian port city of Dar es Salaam via the Copperbelt region in Zambia and the Democratic Republic of Congo (DRC) .Ce Railway is one of Africa's strategic mineral export corridors, as it facilitates shipments of copper and cobalt mined in the DRC and Zambia, countries that are among the world's main producers. The corridor also benefits from a financial commitment from the European Union style="font-family: "Bookman Old Style”, "serif""> and the United States, which recently signed several agreements to connect the rail network to the Indian Ocean via southern Africa. Mota-Engil Africa is in fact part of the consortium of companies awarding the corridor, i.e. the Lobito Atlantic Railway in Africa consortium also composed of Trafigura Group Pte, Vecturis, and Engineering and Construction Africa

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